US and Canada Corrosive Liquids Market Size By Product (Sulfuric Acid, Bromine, Sodium Hydroxide, Phenol), By Application (Chemical Industry, Oil & Gas, Agriculture), By Geographic Scope And Forecast

U.S. and Canada Corrosive Liquids Market Size And Forecast

U.S. and Canada Corrosive Liquids Market size was valued at USD 18.44 Billion in 2020 and is projected to reach USD 22.93 Billion by 2028, growing at a CAGR of 2.71% from 2021 to 2028.

The growth in aluminium production within the US is driving the demand for sodium hydroxide and thereby driving the US & Canada corrosive liquids market. The U.S. and Canada Corrosive Liquids Market report provide a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

U.S. and Canada Corrosive Liquids Market Definition

Corrosive liquids are also known as Class 8 liquids. They are typically strong acids or strong bases. The chemical industry led the US & Canada Corrosive Liquids market in 2020 and is expected to grow at the fastest pace over the forecast period. The US has emerged as the largest market for hyaluronic acid within the North American region. The presence of a well-developed chemical and oil & gas production industry was the key factor driving the market growth.

U.S. and Canada Corrosive Liquids Market Overview

Thanks to big advances in how we drill and frack, the region can mostly take care of its own needs when it comes to petroleum and petrochemicals. And you know, the U.S. chemical industry? It's the biggest industrial user of natural gas, both for energy and as a raw material. Because natural gas is so cheap now, it's really breathed new life into the North American chemical industry. This lower cost means we can make things like ethane, propylene, benzene, and acetone without breaking the bank. So, with all that cheap gas and energy around, chemical production in North America is really booming! Loads of companies have said they're planning to expand to grab a piece of the action. This comeback in chemical production is also boosting demand for corrosive liquids like phenol, sulfuric acid, and hydrochloric acid. Plus, more aluminium being made in the U.S. means we need more sodium hydroxide, which is all helping to drive the corrosive liquids market in the U.S. & Canada.

However, horizontal drilling and hydraulic fracking are associated with large-scale pollution of their surrounding environment. As a result, there have been growing calls for regulating the rampant exploitation of shale reserves and preventing subsequent environmental damage.

U.S. and Canada Corrosive Liquids MarketSegmentation Analysis

The market is segmented based on Product, Application, and Geography.

U.S. and Canada Corrosive Liquids Market, By Product

• Sulfuric Acid• Bromine• Sodium Hydroxide• Phenol• Hydrochloric Acid• Others

To Get Summarized Market Report By Product-

Based on Product, the market is bifurcated into Sulfuric Acid, Bromine, Sodium Hydroxide, Phenol, Hydrochloric Acid, and Others. The US & Canada corrosive liquids markets by product are divided into sulfuric acid, bromine, sodium hydroxide, phenol, hydrochloric acid, and others. The phenol segment led the US & Canada corrosive liquids market in 2020 while the hydrochloric acid segment is expected to grow at the fastest pace over the forecast period.

U.S. and Canada Corrosive Liquids Market, By Application

• Chemical Industry• Oil & Gas• Agriculture• Others

Based on the Application, the market is bifurcated into Chemical Industry, Oil & Gas, Agriculture, and Others. Corrosive liquids are used across four major application industries namely chemical, oil & gas, agriculture, and others. The chemical industry led the US & Canada Corrosive Liquids market in 2020 and is expected to grow at the fastest pace over the forecast period.

U.S. and Canada Corrosive Liquids Market, By Geography

• U.S.• Canada

To Get Summarized Market Report By Geography- 

The U.S. accounted for the largest market share of 82.32% in 2020, with a market value of USD 15,185.36 Million and is projected to grow at a CAGR of 2.83% during the forecast period. Canada was the second-largest market in 2020, valued at USD 3,310.64 Million in 2020; it is projected to grow at the highest CAGR of 4.59%.

Key Players

The “U.S. and Canada Corrosive Liquids Market” study report will provide valuable insight with an emphasis on the market. The major players in the market are BASF, Du Pont, AGC Chemicals and Olin Corporation etc. The market is expected to witness significant new product introductions as the market is still in a growing phase. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

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We dig deep, using both qualitative and quantitative analysis, to understand the market by breaking it down into segments based on money matters and other things too. We'll give you the market value (in USD Billion!) for each piece of the pie. We'll also point out which region and segment are poised for the biggest and fastest growth, and which ones are leading the pack. We'll analyze each region, showing where the product/service is being used the most, and the factors influencing the market there. You'll get a look at the competitive scene, including where the big players rank and what they've been up to lately (new stuff, partnerships, expansions, acquisitions). Plus, we've got extensive company profiles with overviews, insights, product comparisons, and SWOT analyses for the major players. Get a feel for where the industry is headed now and in the future, considering the latest developments (growth opportunities and challenges) in both up-and-coming and established regions. We'll give you a Porter's Five Forces analysis for a thorough look at the market from all angles, and we'll walk you through the Value Chain to give you further insight. See where the market's headed and what growth opportunities are out there. And, just so you know, we offer 6 months of analyst support after the sale.

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